Past our ears in debt and seeking advice for a solution


Hello.  We are in need of a little finacial advise in regards to debt.  We are well past our ears in it and we are finding it hard to financially breathe .  We are living from paycheck to paycheck and finding ourselves further in debt every payday.  We have a mortgaged home that has enough equity to pay off all of our debt.  I have seen a couple of options to use the equity in our home to pay off the debt.  I saw the HELOC and the Refinance w/cashout option.  In regards to the refinance w/cashout option, I have been reading conflicting information on the internet.  Our home is fincnaced through the VA and our home is in Texas.  During my research of this option, I found that since our home is fincanced by the VA loan and is in TEXAS that we do not qualify for this option.  But I have read other articles that does not specify this disqualification.  I feel this would option would be the best for us if we are qualifed.  Can someone confirm whether or not that these are disqualifiers for the Refinance w/cashout?  Are these logical ways to get out of debt?  I understand that each have their pros and cons and that we would be adding an additional payment to the mortgage or increasing the mortgage payment but the difference in the extra money going to the house payment is significantly less than the sum off the monthy payments of our bills.  This would allow us to fincancially breathe again with money to spare to invest.  What could be some other options to the HELOC or Refi w/cashout? We would like some professional advice before pulling the trigger on a decision of this magnitude.  Thank you for all that you do and we are looking forward to your response. 


@I AM no Dave Ramsey, congratulations on taking the first step to securing your future! I will have your inquiry forwarded to a specialist for further review. They will follow up with you when the review is done! ~ Samantha